Automate your
Board and Management Reports,
Departmental Budgets and Forecasts,
Consolidated Financial Statements and
Acquittal Forms
in Excel, exactly the way you want them
If you are a Not for Profit organisation who has:
implemented or is about to implement the standard chart of accounts
multiple funding sources set up in MYOB as detail jobs and job headers
budget variance reports by job by month in Excel
generated acquittal forms for funding bodies
multiple organisations setup as separate MYOB datafiles or
board and/or management reports updated manually in Excel
then please read on...
If you are like most Not for Profit organisations,
you have either developed or have the requirement to develop customised Board and Management Reports in Excel so that you can:
Implement the Standard Chart of Accounts
The impact of this is that jobs have to be used to account for multiple funding sources and MYOB does not have the capacity to capture budgets by job by month
Generate the numbers to populate Acquittal Forms
Requires aggregating activity from multiple accounts and jobs
Provide the Board with customised reports
To display combinations of years and months and versions on the one report;
Add custom variance calculations and formulas and
Many other variations.
Have multiple budget versions
To capture and compare original budgets and with re-forecasts
Consolidate multiple MYOB data files
If you have a group of companies in separate MYOB data files and wish to report consolidated profit and loss or balance sheet reports
In doing so you have probably experienced the following problems and costs associated with generating these reports:
The cost of designing and building reports (if you haven't already done so)
This process can take days, weeks or even months in some cases and is often experienced as a tedious job. (1) It first involves consultation to work out what you want and then how to design it. (2) Building involves a person with sufficient MYOB and Excel skills to export the Chart of Accounts from MYOB, enter column headings, create variance and subtotal formulas, format the reports, enter budget and actual data, and then test and audit the reports to ensure they are correct
Adjusting the Report Structure
Changes to accounts and jobs in MYOB have to be inserted into the reports while ensuring that the existing formulas do not break
Generating Monthly Reports
This process can take days or weeks of a skilled employee to perform. It involves copying and pasting budget data from budget spreadsheets for the reporting period and generating reports from MYOB and then copying and pasting actual data into the reports. This process must be repeated each time adjustments are entered in MYOB.
Reconciling Report Data
This is often an underestimated and can be a time consuming process to locate errors in large spreadsheets. It is also complicated when there is no equivalent report in MYOB to compare against.
Lead Time for Reports
Since the reports can take so long to produce, Management are delayed waiting for information.
Reliance on skilled employees
Generally one person in the organisation has complete knowledge of the reports... and when they go on leave or resign, the reports are no longer available as either the knowledge goes with them or time is required to train up another highly skilled employee and you are subject to the same scenario repeating.
Separate Reports for Each Department and Reporting Period
Since actual and budget data is stored in each of the reports, a separate sheet is required for each combination of department and reporting period. So 30 departments often means one report generated 30 times.
Multiple Versions of Reports
Each time MYOB adjust and a report version is generated it becomes another copy to manage in the office
Risk of relying on erroneous information
With all the modifications that take place to the spreadsheets the risk of re-keying errors and formula breakages increases
Finally, a solution to take away all your reporting problems and significantly reduces your reporting costs.
BudgetLink is a reporting solution written in Excel, the ultimate reporting platform, that integrates with MYOB. It automates your board & management reports, consolidated financial statements, funding acquittal forms and budgeting & forecasting processes.
It has been designed and developed by MYOB Consultants and ex MYOB developers in conjunction with the Non Profit Sector. The CEO, Jeff Stephenson, has also worked with Australia's top 100 companies as an Excel management reporting consultant and now brings this knowledge and expertise to the Not For Profit sector.
BudgetLink Features
Has functions that bring MYOB actual and/or budget data into your existing Excel reports instantly
Has standard reports and charts in Excel designed specifically for Not for Profit organisations that can be easily customised
Automatically pulls data, new accounts and jobs as they are added or updated in MYOB.
Consolidates multiple MYOB data files.
Captures and stores budget data by Company, Account, Project (Job), Year and Month.
Capacity for unlimited budgets (Original, Revised, Forecast, Projected etc).
Can report on multiple levels of accounts and jobs and automatically inserts subtotals
Stores budgets for many years historically and into the future
Fully customisable
Multi-user capability. Can have multiple people accessing the reports across a network.
Fast (Uses latest business intelligence concepts)
BudgetLink Benefits
- Your existing reports are fully automated exactly the way you want them, without compromise.
- Reduce the cost in employee time to generate reports - from hours or weeks to minutes
- Have reports available to management on demand without delay.
- Have a graphical view of your organisation?s position and performance that can be understood quickly by management
- Know well in advance if you are on target with your budget for the financial year
- Implement the standard chart of accounts and continue to use MYOB as your accounting software to account for multiple projects.
- Spend minutes rather than hours or weeks each month to generate, update and audit your report obligations
- Generate reports reliably without the need for highly skilled staff. (Knowledge is maintained in the system and not in the minds of employees.)
- Eliminate the risk of reporting incorrect information due to re-keying errors or corrupt spreadsheet formulas.
- Have existing staff to customise your reports in Excel they way they currently do. No new software to learn.
- Have reports customised exactly the way you want them without compromise.
- Allows you to grow or change seamlessly. New accounts and jobs are incorporated automatically into your reports.
To find out how BudgetLink can benefit your organisation please contact Jeff Stephenson on:
Mobile: 0419 862 410
Phone: +61 08 8377 2144
Fax: +61 08 8311 1718
jeff@accountingaddons.com.au
Search words:
Not for Profit, NFP's, Non Profit, Excel, Excel Reports, MYOB, MYOB Reports, Ultimate, Acquittal Forms, Standard Chart of Accounts, Money, Multiple Funding Sources, Manager, Board and Management Reports, Financial Statements, Budget Variance Reports, Budget Analysis Report, QUT.
